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To: bart13 who wrote (85354)12/31/2011 6:28:59 PM
From: Ilaine1 Recommendation  Read Replies (1) | Respond to of 217942
 
the BLS uses hedonics, but no reverse hedonics in the sense of subtracting for poor quality of particle board furniture vs. real wood furniture, as just one example.

Now that's a very complicated topic. I have a thing for real wood furniture and buy up, example, Stickley.

I also have furniture my great grandfather made by hand.

But poor people can't afford Stickley, and they can afford particle board. So they can buy furniture in their own lifetime instead of hoping to inherit it. And well made particle board, say, Ikea, will last a lifetime.

I don't see how an economist could measure all that.